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First Citizens Bank Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 5 Sep 2023
Fact checked

A quick review of First Citizens Bancshares auto loans

First Citizens Bank logo

First Citizens Bank has around 125 years of experience and 500+ branches throughout 23 states. Potential customers can lock in affordable auto loans starting at 6.19% APR with terms of up to 84 months. Plus, First Citizens offers different loans for different vehicle types – be it cars, RVs, motorcycles, or business vehicles.

Want to see what a First Citizens auto loan will cost? Try the First Citizens Bank auto loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Key First Citizens Bancshares auto loan features

  • Minimum loan amount: $2,500.
  • Maximum loan amount: $200,000.
  • Interest rates: As low as 6.19% APR.
  • Loan terms: Up to 84 months.
  • Loan fees: $100 origination fee.
  • Discounts: Rate discounts with autodraft payments.

FIRST CITIZENS BANK LOAN OPTIONS

New and used auto loans

First Citizens Bank offers new and used auto loans with flexible terms stretching up to 84 months. Starting at 6.19% APR, you can secure a new vehicle from dealers or private sellers, or refinance your auto loan. Until August 31, you can get a 0.50% discount on your rate when you enable autodraft payments.

Motorcycle loans

You can fund your dream two-wheel ride, too. First Citizens’ motorcycle loans allow you to borrow up to 80% of the purchase price or appraised value. For as low as 7.24% APR, you can finance new motorcycles for up to 60 months. Then, used bikes can be up to 36 months.

RV loans

First Citizens also has loans specifically for recreational vehicles. Rates start at 6.99% APR, and terms can be up to 180 months. You can also borrow up to 80% of the purchase price or appraised value. However, note that the minimum credit score for an RV loan is 670.

Business vehicle loans

You can also choose flexible loan options to fund your business vehicle. With this loan, you can finance up to 100% of new or used vehicles, and the terms commonly range from 2 to 5 years.

First Citizens Bank auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$25,000

Term

60 months

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First Citizens BancShares

First Citizens BancShares auto loan

First Citizens BancShares auto loan
Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate First Citizens BancShares auto loan
Featured
Achieva Credit Union

Achieva - New Auto Loan

Estimated Month Repayments
$437 Inclusive of fees
Interest Rate
1.89%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Low fixed interest rates. Flexible terms. Same-day approvals. No hidden fees.
Featured
Bank of America

Bank of America auto loan

Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Bank of America auto loan

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for a First Citizens Bancshares auto loan

Eligibility criteria

While First Citizens doesn’t specify the requirements, you typically should be:

  • At least 18 years old or legal to apply for auto financing
  • Employed or have a steady source of income

Other than the criteria you need to meet, it’s also beneficial to compare the auto loan fees. Each bank differs in the fees they may charge you. So, knowing your options helps you find the one that will save you money in the long run.

What you’ll need to have ready

When you apply for auto financing with First Citizens Bank, you’ll be asked to provide personal information such as:

  • An email address
  • Your full name
  • Address
  • Social Security number
  • Employment information
  • Income details
  • U.S. citizenship status
  • A list of monthly expenses

You may need to provide First Citizens with additional documents to complete your loan request. These documents may include a purchase agreement or bill of sale, car registration and title, instructions for buying out a lease, proof of income (such as federal tax returns and W-2s), and financial statements.

Remember though that the bank may ask for more or less depending on your situation. So, it helps to know the car loan documents you may need for your application. This way, you can prepare early on and avoid any possible delays in the loan application process.

Ways to apply for a First Citizens Bank auto loan:

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 888-323-4732

Additional First Citizens Bank auto loan details

  • Automatic payment: Available.
  • Loan approval times: Undisclosed. Depending on your application, it may be a day to a few weeks.
  • Rate discounts: 0.50% rate discount for borrowers who set up autodraft payments.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: None.
  • Co-borrowers allowed: Undisclosed.
  • Co-signers: Undisclosed.
  • Ways to repay: Online banking, mobile app, over the phone, by mail, and in-person.
  • Hardship program: Undisclosed.

Vehicle restrictions and limitations

  • Maximum vehicle age: Unspecified. But generally, banks may limit vehicles up to 10 years old.
  • Maximum vehicle mileage: Unspecified.
  • Other vehicle restrictions: Unspecified.

PROS AND CONS

Pros

  • Longer loan terms.
  • Fixed rates for easier budgeting.
  • Competitive rates.
  • Quick funding time (within 24 hours).
  • Business vehicle loans available.
  • 500+ branches across multiple states.
  • 0.50% APR off with autodraft payments.
  • $0 early payment penalty.
  • Optional auto insurance available.
  • Funding includes dealerships, private sellers, and refinancing.

Cons

Frequently asked questions

How long does it take for a First Citizens Bank car loan to be paid into my account?

Once you finalize your loan, you can expect your funds within 24 hours.

What is the maximum term of a First Citizens auto loan?

First Citizens’ auto loans can have terms of up to 84 months.

Are First Citizens Bank auto loan interest rates fixed or variable?

First Citizens auto loans have fixed rates, so you can easily budget your monthly payments.

How much do I qualify for with a First Citizens auto loan?

You may borrow up to $200,000 for a new or used car. But keep in mind that your maximum loan amount is subject to credit approval.

How to apply for an auto loan at First Citizens Bank?

To apply for vehicle financing, you can call the bank or visit a branch. Alternatively, you can fill out an online form, and the First Citizens will contact you within 2 business days.

How much interest does First Citizens Bank charge on car loans?

Your interest rate can be as low as 6.19% APR. However, note that your annual percentage rate (APR) will be based on your credit profile and loan amount.

Video: First Citizens – Forever first

Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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